Tax consequences of becoming a US citizen
On Tue, Jul 09, at 02:02PM, Tim May wrote:
Also, a person having extensive offshore (outside the U.S.) assets may well find his assets are now taxable in the U.S. And for those with capital assets not taxed in their home countries (e.g., Germany, Japan), this may be quite a shock.
On 9 Jul 2002 at 18:40, Gabriel Rocha wrote:
This applies wether he is a US citizen or not, green card holder or not, Sealand citizen or not. Once the IRS sinkstheir claws into you, you're screwed.
Are you saying that if someone is legally resident in the US for a while, the US IRS will attempt to get his assets all over the world forever? I find this hard to believe.
On Wed, Jul 10, at 03:20AM, Nomen Nescio wrote: | Are you saying that if someone is legally resident in the US for a | while, the US IRS will attempt to get his assets all over the | world forever? I find this hard to believe. For a specific time period, this is absolutely true. Hard to believe, sure, real anyway? Yes. But there is an income cap somewhere, it may vary, but I suspect it to be like the $80k you get tax exempt.
Nomen Nescio wrote:
Are you saying that if someone is legally resident in the US for a while, the US IRS will attempt to get his assets all over the world forever? I find this hard to believe.
Not necessarily "get" them, but tax them. Believe! Marc de Piolenc -- Remember September 11, 2001 but don't forget July 4, 1776 They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. - Benjamin Franklin
Nomen Nescio wrote:
On Tue, Jul 09, at 02:02PM, Tim May wrote:
Also, a person having extensive offshore (outside the U.S.) assets may well find his assets are now taxable in the U.S. And for those with capital assets not taxed in their home countries (e.g., Germany, Japan), this may be quite a shock.
On 9 Jul 2002 at 18:40, Gabriel Rocha wrote:
This applies wether he is a US citizen or not, green card holder or not, Sealand citizen or not. Once the IRS sinkstheir claws into you, you're screwed.
Are you saying that if someone is legally resident in the US for a while, the US IRS will attempt to get his assets all over the world forever? I find this hard to believe.
Fascinating. Take it to taxpunks. -- http://www.apache-ssl.org/ben.html http://www.thebunker.net/ "There is no limit to what a man can do or how far he can go if he doesn't mind who gets the credit." - Robert Woodruff
participants (4)
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Ben Laurie -
F. Marc de Piolenc -
Gabriel Rocha -
Nomen Nescio